A company owes employee salaries of $16,000 at the end of the year. These salaries will be paid in the following year. The company has not recorded anything on the books related to the salaries. What adjustment, if any, does the company need to record at the end of the year? (NOTE: This is NOT asking for the impact to the accounting equation.) Multiple Choice No adjustment is necessary at the end of the year. Decrease Salaries Expense and decrease Salaries Payable for $16,000. Increase Salaries Payable and increase Salaries Expense for $16,000 Increase Salaries Expense andecrease Cash for $16,000.